Allied Group of Providence, a total information management company, has acquired the Cranston-based commercial printing firm of Keyprint Inc. The terms of the acquisition were not released.
According to Robert Clement, president and chief executive officer of Allied Group, the acquisition of Keyprint adds another dimension to the company, which was founded as Allied Printing in 1946.
“By acquiring Keyprint we are expanding our service line to organizations throughout New England and creating jobs at the same time,” he said. “Because there is no duplication of expertise between our two companies, not one person lost their jobs due to the acquisition. In fact, we are adding employees to keep you with the growth which is consistent with out business strategy.”
Keyprint, which has approximately 38 employees, and net revenues close to $4 million last year, will handle Allied Group’s commercial printing needs.
“The demand for high-quality printing from clients continued to grow at the same time that the Internet order entry entered the marketplace,” Clement said. “We wanted to become a bigger resource to our clients who need a one-stop shop solution. Since we already had a successful business relationship with Keyprint, it made sense to discuss the acquisition. Now, together, we can focus on expanding all or our service offerings for customers while maintaining control of our commercial printing in-house. So far it’s working very well.”
Formerly known as Allied Printing, the company changed its name to the Allied Group soon after the acquisition was complete, Clement said.
“The name change was partly because of the acquisition and partly because of the diversification of the company,” he said.
Keyprint in the sixth division at Allied. Other services, include business documents, digital printing, promotional products, Internet technology, and fulfillment. The strategy, Clement said, is to align with customers who need all aspects of business documentation management.
“All of our services are tied in with the virtual office,” he said. “Our basic deal is that we want to offer customers a one-stop shopping solution.”
Clement said the company also has plans for continued expansion.
“We definitely will be doing further acquisitions and expansions of products and services in the future,” he said. “If our customers want it, we will find a source for it, or acquire the capability to do it.”
